Gift Nifty, a dollar-denominated derivative contract of India’s benchmark Nifty 50 index, hit a record single-day trading activity on Tuesday with a turnover of $16.76 billion, the NSE’s International Exchange (NSE IX) said. Gift Nifty, formerly known as SGX Nifty that traded on the Singapore Exchange’s platform, exceeded its previous record single-day trading turnover of $15.25 billion hit on Sept. 26, the exchange said in a statement on Wednesday. The derivative contract, set up in Gujarat International Finance Tec-City (or GIFT City) in western India, has clocked a total cumulative volume of over 7.87 million contracts and a turnover of $304.07 billion since July 3. It also hit a fresh open interest record worth $13.51 billion on Tuesday. The NSE Nifty 50 index on Wednesday rose 1.04% to 20,096.60 points, settling above the 20,000 mark for the first time since Sept. 18.